RGC Resources, Inc. (NASDAQ:RGCO) Director Robert B. Johnston Buys 995 Shares

RGC Resources, Inc. (NASDAQ:RGCO - Get Free Report) Director Robert B. Johnston acquired 995 shares of RGC Resources stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average cost of $19.77 per share, with a total value of $19,671.15. Following the purchase, the director now directly owns 64,000 shares of the company's stock, valued at $1,265,280. This represents a 1.58 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

RGC Resources Stock Up 3.1 %

Shares of RGCO stock traded up $0.60 during mid-day trading on Friday, hitting $20.26. 62,799 shares of the stock traded hands, compared to its average volume of 13,521. RGC Resources, Inc. has a 52-week low of $17.90 and a 52-week high of $24.20. The stock has a market cap of $207.93 million, a P/E ratio of 17.47 and a beta of 0.17. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.87 and a quick ratio of 0.52. The stock's fifty day moving average is $20.83 and its two-hundred day moving average is $20.77.

RGC Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Friday, January 17th will be paid a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change from RGC Resources's previous quarterly dividend of $0.20. RGC Resources's payout ratio is 71.55%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered RGC Resources from a "hold" rating to a "sell" rating in a research report on Thursday.

Institutional Investors Weigh In On RGC Resources

Several institutional investors have recently bought and sold shares of the company. Gabelli Funds LLC lifted its holdings in shares of RGC Resources by 16.4% during the 2nd quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company's stock valued at $4,585,000 after purchasing an additional 31,651 shares during the last quarter. Cutter & CO Brokerage Inc. raised its stake in RGC Resources by 18.5% in the third quarter. Cutter & CO Brokerage Inc. now owns 137,948 shares of the energy company's stock valued at $3,113,000 after buying an additional 21,489 shares during the last quarter. Barclays PLC boosted its holdings in RGC Resources by 257.3% in the third quarter. Barclays PLC now owns 10,941 shares of the energy company's stock worth $247,000 after acquiring an additional 7,879 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of RGC Resources by 4.1% during the third quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company's stock worth $4,429,000 after acquiring an additional 7,701 shares during the last quarter. Finally, Fruth Investment Management increased its holdings in shares of RGC Resources by 10.1% during the third quarter. Fruth Investment Management now owns 13,100 shares of the energy company's stock valued at $295,000 after acquiring an additional 1,198 shares in the last quarter. 35.77% of the stock is currently owned by institutional investors and hedge funds.

RGC Resources Company Profile

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. It sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. The company also provides various unregulated services. It operates approximately 1,179 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates six metering stations.